Possible broadening descending wedge on BTC Bitcoin?
Brace yourself: First bullish bitcoin post in months.
Looks like a possible broadening descending wedge. Looking for a bottom of this pattern to complete at 2800-3100 (200 weekly moving average confluence).
We should see a significant rally to the 4800-5100 level from the breakout of this pattern.
Will this be the bottom? I don't know. I am still holding onto my 1365 target for the true capitulation bottom.
Long target: 2800-3100
TP: 4900
Looks like a possible broadening descending wedge. Looking for a bottom of this pattern to complete at 2800-3100 (200 weekly moving average confluence).
We should see a significant rally to the 4800-5100 level from the breakout of this pattern.
Will this be the bottom? I don't know. I am still holding onto my 1365 target for the true capitulation bottom.
Long target: 2800-3100
TP: 4900
Note
I am also look at the 2500 level as a potential bounce point. The broadening descending wedge support zone is there, as well as a huge volume profile node (refer to this idea where I predicted this scenario MANY months ago)
Transaction en cours
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.